48
In forceProceedings
Part 5Transitional provisions
48 Proceedings
If, immediately before the succession day, proceedings relating to former Corporation property (including arbitration proceedings) to which the Corporation was a party were pending or existing in any court or tribunal, then, on and after the succession day, the new body specified in the relevant transfer Order is substituted for the Corporation as a party to the proceedings and has the same rights in the proceedings as the Corporation had.
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